All Forum Posts by: David Lee

Thanks for all of the replies. @Jon Holdman can you give some other ideas that might be good to invest in.

Welcome @Celia Holliday to BP. It's good to see another from NC.

I just recently opened a self directed IRA and have not purchased anything yet but I have been looking. I was wondering if I purchased a place and did the repairs myself can I pay myself like a contractor or would that not be the correct way to do it. Any help would be appreciated.

I don't that I would invest into something that I was just going to break even on. There are to many variables that could make you go into the negative later on. Things such as you had to fix the roof or heat/ac or even nobody renting it for a long period of time. Like @Levi Forrest I could understand if it was yours and rented it out after you purchased something else. I think the big thing is that you are here to make money not let it sit in a house and see it for 30 years.

hello Leroy welcome to BP. Looking forward to read about your upcoming experience.

Welcome to BP @Mercy Ukpe. There is plenty to be learned here on BP. Good luck in the future and I look forward to reading about your future deals.

Welcome to BP @LaShelle S. . Its amazing at the stuff I have found on BP. I am down here in NC not far off. I have been in rental properties for about 13 years. Good luck and lucking forward to see you succeed.

@Nate Green

I have not worked for someone but I have helped my dad and uncle. It to me was priceless with the information that I learned. My dad has purchased around 10 rental properties in the last 20 years. I went along with him and it helped me a lot. As for my uncle he has been a realtor since the late 80's. I learned about rentals on campuses because he lives close to ASU. I also got learn a little bit about flipping houses and raw land deals.

welcome @Athony Lark to bp. I am also from NC and have learned a lot from BP. If there is any advice that I can give its read and research.

@ Jessica Gourdine I have not flipped a house but is one of the next things that I would like to do. All of my experience has been in rentals. I just recently rolled my 401k over into a self directed IRA. If you have a 401k or a regular IRA you can roll it over to a self directed IRA and by property to flip or rent out with it.